Lumax International Corp Ltd (6192) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Lumax International Corp Ltd TWD 148, price TWD 111, upside +34.3%, quality 68 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Lumax International Corp., Ltd., together with its subsidiaries, trades in electronic components and process control instruments in Taiwan, China, and internationally. It operates through Process Control Instrument, Process Control System, Telecommunication System, Electronics Component, and Other Process Control segments.
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Lumax International Corp., Ltd., together with its subsidiaries, trades in electronic components and process control instruments in Taiwan, China, and internationally. It operates through Process Control Instrument, Process Control System, Telecommunication System, Electronics Component, and Other Process Control segments. It provides process automation consultancy during plant buildup; hardware/system installation; project management; and control valve maintenance services for the petrochemical, electronic, steel, and other non-tech enterprises. The company also sells hardware products for the calibration, inspection, and maintenance of control valves, switch valves, measurement instruments, analyzing instruments, and others; and provides control valve repair services, and Lumax valve and VOC anti-leakage solutions. In addition, it engages in investment activities; machinery and equipment contract; integration of process control systems; sale of valves, cocks, mechanical equipment and instrumentation products, and special equipment for chemical production; other technical services related to component manufacturing; information consulting; conference and exhibition; technology development, consulting, exchanges, transfer, and promotion; and instrument repair activities. Further, the company is involved in the installation of mechanical and electrical equipment; on-site maintenance; import and export of goods and technologies; assembly, repair, and instrument calibration of mechanical and electrical products; and assembly, maintenance, commissioning, and technical consultation and service of electromechanical equipment. Lumax International Corp., Ltd. was incorporated in 1975 and is headquartered in Taipei, Taiwan.
Stock analysis
Lumax International Corp Ltd (6192) currently trades at 110.50 TWD, while our model-based Fair Value estimate is 148.35 TWD, implying the stock looks roughly 25.5% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 171.10 TWD per share, and 19 of the 24 models we run sit above the 110.50 TWD price.
Bear case: the Asset-Based group reads lowest at 52.40 TWD, and 5 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 109.74 TWD (bear) to 198.64 TWD (bull), the price of 110.50 TWD sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 68/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Lumax International Corp Ltd reported revenue of 7.4B TWD in FY2025 versus 6.3B TWD in FY2021, a compound +4.1%/yr. Reported net income was 968M TWD in FY2025, compounding +3.3%/yr from FY2021.
Key figures
Market cap 10.6B TWD (≈ $335M) · P/E ratio 11.1 · P/S ratio 1.46 · EPS (TTM) 9.94 TWD · Dividend yield 5.2% · Net margin 13.2% · Return on equity 13.3% · Return on assets (EBIT) 10.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −29% fair-value upside, at 34%, 6192 screens cheaper than that median.
Fair Value models
Bear 109.74 TWDFair Value 148.35 TWDBull 198.64 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (3.04 TWD per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−6.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.4%
Start year 2020 (pandemic). Over 10 years: +3.3% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.8%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+10.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.7%
Dividend (yield on the price)5.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6% vs 7%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.17% → 17%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−7.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −8.6% a year for the price.
Compare Lumax International Corp Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Industrial Distribution · 112 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside+34% · Above median
Profitability
Return on equity (TTM)13% · Above median
Return on assets6% · Top 25%
Net margin (TTM)13% · Top 25%
Operating margin (TTM)17% · Top 25%
Growth and dividend
Revenue growth−1% · Below median
Dividend yield (TTM)5.2% · Top 25%
Valuation Multiplesvs Industrial Distribution median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Lumax International Corp Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6192
Frequently asked questions
Is Lumax International Corp Ltd (6192) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 148.35 TWD versus a price of 110.50 TWD, about +34% upside (undervalued).
What is the fair value of 6192?
Our model-based fair value for Lumax International Corp Ltd is 148.35 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 110.50 TWD.
What is the quality score of 6192?
Lumax International Corp Ltd has a Quality Score of 68/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Lumax International Corp Ltd (6192)?
Our model-based price target is the fair value of 148.35 TWD (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 109.74 TWD, optimistic scenario 198.64 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Lumax International Corp Ltd stock forecast for 2026?
Our models put fair value at 148.35 TWD, about +34% upside versus a price of 110.50 TWD (undervalued). Cautious scenario 109.74 TWD, optimistic scenario 198.64 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Lumax International Corp Ltd (6192)?
Lumax International Corp Ltd reported trailing-twelve-month revenue of about 7.3B TWD (latest available figure, as of Sep 24, 2026).
Does Lumax International Corp Ltd pay a dividend?
Lumax International Corp Ltd currently shows a dividend yield of about 5.25% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Lumax International Corp Ltd (6192)?
For today's price to be fair in a discounted-cash-flow model, Lumax International Corp Ltd would have to grow free cash flow by -7.2 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 6192 use?
Our models discount Lumax International Corp Ltd at 10.5 %: a base by market capitalisation (small), damped by beta 0.55, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Lumax International Corp Ltd that is -7.2 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Lumax International Corp Ltd (6192) delivered so far?
Over the past 5 years revenue at Lumax International Corp Ltd grew +4.4 % a year. The price currently implies -7.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Lumax International Corp Ltd (6192) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Lumax International Corp Ltd (-7.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Lumax International Corp Ltd (6192)?
The free-cash-flow yield on the price is 8.12 %: that much free cash flow Lumax International Corp Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Lumax International Corp Ltd (6192)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lumax International Corp Ltd it is 148.35 TWD per share (as of Sep 24, 2026), against a price of 110.50 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Lumax International Corp Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6192 trades below its calculated fair value: price 110.50 TWD, fair value 148.35 TWD, a gap of about +34% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 6192?
No. The price is what the market pays today (110.50 TWD); the fair value is what the company's own numbers justify (148.35 TWD). For Lumax International Corp Ltd the two are 37.85 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Lumax International Corp Ltd worth?
The market values Lumax International Corp Ltd at about 10.6B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 110.50 TWD; our models calculate a fair value of 148.35 TWD per share.
What do the bullish and bearish scenarios say about 6192?
Our models span a range for Lumax International Corp Ltd: cautious scenario 109.74 TWD, base 148.35 TWD, optimistic 198.64 TWD per share (as of Sep 24, 2026, price 110.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6192?
Lumax International Corp Ltd trades at a price-to-earnings ratio of 11.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 148.35 TWD is built from several models across several years. Other multiples: PEG 0.7, P/B 1.4, P/S 1.4, EV/EBITDA 6.9.
What is the PEG ratio of 6192?
The PEG ratio of Lumax International Corp Ltd is 0.72 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Lumax International Corp Ltd (6192)?
Balance-sheet figures for Lumax International Corp Ltd (as of Sep 24, 2026): return on equity 13.3%. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is 6192 from its 52-week high?
Lumax International Corp Ltd trades at 110.50 TWD, about 17% below its 52-week high of 133.50 TWD and 13% above the low of 98.20 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 148.35 TWD is for.
Which stocks are comparable to Lumax International Corp Ltd?
From the same area (Industrials) we also value W.W. Grainger, Inc, Fastenal Company, Ferguson Enterprises Inc, WESCO International, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Lumax International Corp Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 110.50 TWD, calculated fair value 148.35 TWD (+34%), Quality Score 68/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 6192 calculated?
We run Lumax International Corp Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 148.35 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Lumax International Corp Ltd currently trades 34 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Lumax International Corp Ltd (6192)?
The closing price on Sep 24, 2026 was 110.50 TWD. Our model-based fair value is 148.35 TWD, about +34% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lumax International Corp Ltd right now?
Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (109.74 TWD to 198.64 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Lumax International Corp Ltd (6192) come from?
Earnings per share at Lumax International Corp Ltd grew +6.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.8 %, EBIT margin +1.9 %, tax rate −0.4 %, residual (interest, one-offs) +0.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Lumax International Corp Ltd
How large is the market capitalisation of Lumax International Corp Ltd (6192)?
The market capitalisation of Lumax International Corp Ltd is 10.6B TWD (≈ $335M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Lumax International Corp Ltd (6192)?
The price-to-sales ratio of Lumax International Corp Ltd is 1.46 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Lumax International Corp Ltd (6192)?
Earnings per share at Lumax International Corp Ltd are 9.94 TWD (price ÷ EPS = P/E 11.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lumax International Corp Ltd (6192)?
The dividend yield of Lumax International Corp Ltd is 5.2% (payout 58.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Lumax International Corp Ltd (6192)?
The net margin of Lumax International Corp Ltd is 13.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Lumax International Corp Ltd (6192)?
The return on equity (ROE) of Lumax International Corp Ltd is 13.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Lumax International Corp Ltd (6192)?
On an EBIT basis the return on assets of Lumax International Corp Ltd is 10.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Lumax International Corp Ltd (6192)?
The operating margin of Lumax International Corp Ltd is 17.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lumax International Corp Ltd (6192)?
Revenue at Lumax International Corp Ltd is growing −0.6% versus a year earlier (3y avg +4.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Lumax International Corp Ltd (6192)?
Earnings per share at Lumax International Corp Ltd are growing −10.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Lumax International Corp Ltd (6192) hold?
Lumax International Corp Ltd holds more cash than debt, 1.7B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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